I had a laugh with a mate the other day thinking about Pacmag in these simple terms.Obviously, this leaves out the very important fact that the copper is in the ground and expensive to get out.
- I own a small holding (165,000 shares)
- That equates to roughly 0.11% of the company today
- At Ann Mason alone (at least 7.1 billion pounds of copper) that's the equivalent of saying I own 7 million 8 hundred thousand pounds of copper
- At US$3/lb, my share of the copper at Ann Mason is worth over US$23.4million
I just found it amusing that I'm supposed to be happy with the 33c offer...
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